India's unemployment rate has dropped to 2%, the lowest among G20 nations, indicating the effectiveness of government schemes and economic growth in creating employment opportunities.
Click to View MoreThe GST Compensation Cess is an additional tax levied on specific goods and services to compensate states for revenue losses incurred due to the implementation of GST. It was introduced because GST is a consumption-based tax, causing manufacturing states to lose revenue. Initially for five years, its collection has been extended to March 31, 2026.
Click to View MoreThe Production-Linked Incentive (PLI) scheme is a strategic economic plan aiming to transform India into a global manufacturing hub. It encourages large-scale investment, boosts exports, and creates jobs. Despite facing implementation challenges, its sectoral approach and performance-based design are crucial for its potential success.
Click to View MoreGST transformed the indirect tax system, boosting revenue and formalizing the economy, but challenges like the exclusion of petroleum products, a complex rate structure, and delays in dispute resolution require reforms like phased inclusion of excluded sectors and deeper digital integration to achieve the "One Nation, One Tax" ideal and fuel economic growth.
Click to View MoreThe MSME sector is the backbone of the Indian economy, driving employment, innovation, and exports, but faces challenges related to credit access, technology adoption, and skilled workforce, requiring continued government support and focus on digitalization and sustainability for resilient growth.
Click to View MoreThe Ministry of Skill Development and Entrepreneurship (MSDE) and the World Economic Forum (WEF) have launched the India Skills Accelerator initiative to address the skills gap in India. The initiative aims to close skill gaps, encourage investment, strengthen government-industry partnerships, and prepare the workforce for the future.
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